Anson Economic Development Corporation
EIN: 561783235 · Wadesboro, NC · NTEE: S30
Is Anson Economic Development Corporation Legit?
Insufficient Data
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
About Anson Economic Development Corporation
Anson Economic Development Corporation (EIN: 561783235) is a nonprofit organization based in Wadesboro, NC, classified under NTEE code S30. The organization reported total revenue of $2.2M and total assets of $9.4M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Anson Economic Development Corporation's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Anson Economic Development Corporation is a mid-size nonprofit that has been operating for 3 years, with 6 years of IRS 990 filings on record (2015–2024). Revenue has grown at a compound annual rate of 50.8%.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.1M |
| Total Expenses | $440K |
| Surplus / Deficit | +$1.7M |
| Total Assets | $9.4M |
| Total Liabilities | $6.6M |
| Net Assets | $2.8M |
| Operating Margin | 79.2% |
| Debt-to-Asset Ratio | 70.4% |
| Months of Reserves | 257.2 months |
Financial Health Grade: A
In 2024, Anson Economic Development Corporation reported a surplus of $1.7M with revenue exceeding expenses, holds 257.2 months of operating reserves (strong position), has a debt-to-asset ratio of 70.4% (high leverage).
Financial Trends
Over 6 years of filings (2015–2024), Anson Economic Development Corporation's revenue has grown at a compound annual growth rate (CAGR) of 50.8%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2024 | +535.7% | +102.6% | +696.0% |
| 2023 | -28.0% | +36.5% | +11.1% |
| 2022 | +168.4% | +2.5% | +39.9% |
| 2021 | -33.1% | -55.3% | +2.3% |
| 2020 | +391.6% | +90820.4% | +124.5% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 2023 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Analysis Pending
AI enrichment for Anson Economic Development Corporation has not yet been completed. Basic IRS 990 data is shown below. Check back later for a full transparency report including a Mission Score, spending breakdown, executive compensation analysis, and red flags assessment.
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Anson Economic Development Corporation with a Mission Score of 0 out of 100 (Very Poor). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Key Financial Metrics (2024)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $1.7M, with revenue exceeding expenses.
- Debt-to-asset ratio: 70.4%.
Frequently Asked Questions about Anson Economic Development Corporation
Is Anson Economic Development Corporation a legitimate charity?
Based on AI analysis of IRS 990 filings, Anson Economic Development Corporation (EIN: 561783235) insufficient data. 0 red flags identified, 0 strengths noted.
How does Anson Economic Development Corporation spend its money?
Detailed spending breakdown data is not yet available for Anson Economic Development Corporation. Check back for updated IRS 990 analysis.
Are donations to Anson Economic Development Corporation tax-deductible?
Anson Economic Development Corporation is registered as a tax-exempt nonprofit (EIN: 561783235). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
Filing History
IRS 990 filing history for Anson Economic Development Corporation showing financial trends over 6 years of public records:
Over 6 years of IRS 990 filings (2015–2024), Anson Economic Development Corporation's revenue has grown by 3939.2%, moving from $52K to $2.1M. Total assets increased by 2741.6% over the same period, from $332K to $9.4M. Total functional expenses rose by 114957.9%, from $382 to $440K. In its most recent filing year (2024), Anson Economic Development Corporation reported a surplus of $1.7M, with revenue exceeding expenses. The organization holds $6.6M in liabilities against $9.4M in assets (debt-to-asset ratio: 70.4%), resulting in net assets of $2.8M.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2024 | $2.1M | $440K | $9.4M | $6.6M | — | View 990 |
| 2023 | $333K | $217K | $1.2M | $3K | — | — |
| 2022 | $463K | $159K | $1.1M | $1K | — | — |
| 2021 | $172K | $155K | $762K | $1K | — | — |
| 2020 | $258K | $347K | $744K | $1K | — | — |
| 2015 | $52K | $382 | $332K | $10K | — | View 990 |
Year-by-Year Financial Summary
- 2024: Revenue of $2.1M, expenses of $440K, and assets of $9.4M (revenue +535.7% year-over-year).
- 2023: Revenue of $333K, expenses of $217K, and assets of $1.2M (revenue -28.0% year-over-year).
- 2022: Revenue of $463K, expenses of $159K, and assets of $1.1M (revenue +168.4% year-over-year).
- 2021: Revenue of $172K, expenses of $155K, and assets of $762K (revenue -33.1% year-over-year).
- 2020: Revenue of $258K, expenses of $347K, and assets of $744K (revenue +391.6% year-over-year).
- 2015: Revenue of $52K, expenses of $382, and assets of $332K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Anson Economic Development Corporation:
Data Sources and Methodology
This transparency report for Anson Economic Development Corporation is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.